Built-to-rent specialist Grainger has exchanged contracts to forward fund and acquire a 401-home build-to-rent development scheme in Southall, West London, for £141m.
The deal for Merrick Place allows construction of the scheme to start in December.
Located adjacent to Southall Station, including the new Crossrail station, the scheme forms part of a wider development to be delivered by Network Homes with Henry Construction as the appointed contractor.
In line with Grainger’s cluster strategy, Merrick Place builds on Grainger’s existing West London portfolio, which includes Kew Bridge Court comprising around100 homes.
In addition, Grainger is pursuing Southall Sidings, a build-to-rent scheme of 460 homes, which is located nearby to Merrick Place and recently received planning consent, and which forms part of Grainger’s partnership with TfL, via its Connected Living London JV.
Helen Gordon, Chief Executive Officer of Grainger, said: “We are pleased to work with Network Homes to bring forward Merrick Place to deliver 401 new, high quality, purpose built rental homes in Southall.”
source: constructionenquirer
